As political parties including Alternative for Germany (AfD) and Sahra Wagenknecht Alliance (BSW) promise more money for pensioners, pensions has become a hot topic in Germany ahead of the federal election next year.
The coalition government has also found itself in political hot water, after Finance Minister Christian Lindner announced plans to shake up private pensions earlier in 2024, a few years after significant unrest broke out in France when President Emmanuel Macron introduced legislation to raise statutory retirement age.
Euronews met with 65 year old Berlin retiree Antje who worked for 45 years as a senior carer in a care home for older people. She says she receives a state pension of €1,500 per month after deductions for health insurance and tax.
Antje counts herself as lucky as she inherited wealth from her family, but recognises that it's "tough for people from different backgrounds who may not have the same education or opportunities from their parents. It’s difficult for them to get ahead."
She said it's important for people to secure their retirement plan early, "so you don’t have to rely on someone else to look after you or provide opportunities for you," and has already been advising her son to diversify his assets with investments.
When asked about poverty amongst older people, Anje pointed to her time working in a care home. "I’ve noticed that older people who are placed in homes or are taken care of by their relatives often have very little money. Many of them only have a small amount of disposable income each month and are struggling".
Antje explains that these people are still cared for, but are often forced to rely on what they can get in social security. "Some of them didn’t earn much throughout
country
security
UPS
election
Party
Waters
Emmanuel Macron